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    Gerald Lett Ave Angola, IN 46703
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    Gerald Lett Ave, Angola, IN 46703

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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Gerald Lett Ave

    Property type
    Land
    Property subtype
    Industrial properties

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Angola
    County
    Steuben
    State
    Indiana
    Longitude
    -85.0283
    Latitude
    41.6373

    Comparable in this City

    • Value Estimation by Request
      5.05 Acres

      Wohlert St

      Land
      0 Wohlert St, Angola, IN 46703
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    • Value Estimation by Request

      Tbd Gerald Lett

      Land
      0 Tbd Gerald Lett, Angola, IN 46703
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    • Value Estimation by Request
      42.00 Acres

      Old Us Highway 27

      Land
      0 Old Us Highway 27, Angola, IN 46703
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    • Value Estimation by Request

      Tbd Golden Lk Rd

      Land
      0 Tbd Golden Lk Rd, Angola, IN 46703
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    • Value Estimation by Request

      595 Eyster Dr

      Land
      595 Eyster Dr, Angola, IN 46703
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    • Value Estimation by Request
      4.28 Acres

      2 Eyster Dr

      Land
      2 Eyster Dr, Angola, IN 46703
      View Details

    Similar Nearby for Sale

    • $299,900
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      Angola Commercial Land - $299,900

      High-traffic Angola land, ideal for development.
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    • $348,800
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      Mixed-Use Building in Angola, Indiana

      3610 sq ft mixed-use building with offices and drive-thru.
      1800 Wohlert St, Angola, IN 46703
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      2,880 SF

      Mixed-Use Building With Warehouse Space

      2880 SF mixed-use building featuring offices and warehouse space.
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    • $299,900
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      Mixed-Use Building in Angola, Indiana

      2880 SF mixed-use building with offices and warehouse space.
      207 W Harcourt Rd, Angola, IN 46703
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    • $814,900
      0.88 Acres

      Versatile Commercial/Industrial Property in Angola

      Expansive property with functional workspace and ample parking.
      645 W 155 S, Angola, IN 46703
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    • $3,511,000
      154,080 SF

      Industrial Investment Opportunity

      Passive income stream with long-term lease and credit backing.
      914 Wohlert St, Angola, IN 46703
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    Similar Nearby for Lease

    • $16,438 /Mo
      17,280 SF

      Angola Industrial Warehouse with Loading

      Industrial warehouse space available for sublease in Angola, Indiana.
      300 Industrial Dr St, Angola, IN 46703
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      Retail/Office Building Near I-69

      Multi-tenant building with retail and office spaces, I-69 access.
      202 E Harcourt Rd, Angola, IN 46703
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    • Contact for pricing

      Retail Spaces Available for Lease

      Retail spaces with high visibility and ample parking.
      1651 N Wayne St, Angola, IN 46703
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    • New
      $500 /Mo
      Pending

      Office Suite in Retail Plaza

      Small office suite with reception area and shared restroom, positioned for strong walk-in visibility.
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      2,410 SF

      Retail Space Near Trine University

      Retail space with high visibility near Trine University for lease.
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      2,851 SF

      Office Space in Angola, Indiana

      Multi-tenant office property with convenient access to I-69.
      330 Intertech Pkwy, Angola, IN 46703
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    Angola, IN 46703
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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